TSX Ends Marginally Up After Cautious Session

RTTNews | 766 дней спустя

(RTTNews) - The Canadian market ended marginally up on Monday thanks to strong gains in the energy sector as oil prices rose sharply.

Shares from all the other sectors turned in a mixed performance.

The mood was cautious with investors awaiting monetary policy meetings of the U.S. Federal Reserve, European Central Bank and the Bank of Japan.

The Fed, scheduled to announce its policy on Wednesday, is widely expected to raise rate by 25 basis points. The accompanying statement is eyed for hints on future rate hikes.

The European Central Bank and the Bank of Japan are scheduled to announce their monetary policies on Thursday and Friday, respectively.

The benchmark S&P/TSX Composite Index ended with a gain of 34.61 points or 0.17% at 20,582.12.

The Energy Capped Index climbed 1.67%. Cenovus Energy (CVE.TO), Imperial Oil (IMO.TO), Athabasca Oil Corp (ATH.TO), Suncor Energy (SU.TO) and Canadian Natural Resources (CNQ.TO) gained 2 to 2.75%. Baytex Energy (BTE.TO), Vermilion Energy (VET.TO), Whitecap Resources (WCP.TO) and Birchcliff Energy (BIR.TO) also ended sharply higher.

Among other prominent gainers, Ag Growth International (AFN.TO) rallied more than 4%. Nutrien (NTR.TO), BRP Inc (DOO.TO), Canadian Tire Corporation (CTC.TO), Teck Resources (TECK.B.TO) and Brookfield Infrastructure (BIPC.TO) advanced 1.3 to 2.7%.

Aritzia Inc (ATZ.TO), Bausch + Lomb Corporation (BLCO.TO), SNC-Lavalin Group (SNC.TO), Cargojet (CJT.TO), Restaurant Brands International (QSR.TO), Kinaxis Inc (KXS.TO) and Onex Corporation (ONEX.TO) lost 1 to 4%.

CGI Inc (GIB.A.TO) announced that it is planning to invest C$1 billion over three years on the expansion of its artificial intelligence services and solutions. The stock gained about 0.3%.

TC Energy Corporation (TRP.TO) shares ended 2.6% down. The company announced today that it has entered into an agreement to sell a 40% stake in its Columbia Gas Transmission and Columbia Gulf Transmission systems for C$5.2 billion.

On the economic front, wholesale sales in Canada fell 4.4% month-over-month in June 2023, according to preliminary estimates.

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